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Tcs

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(Querist)
23 January 2013 Whether scrap sale of batteries attract TCS. If so what is the percentage? is there any limit
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Anand

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Anand (Expert)
23 January 2013 Sale of scrap attracts TCS @ 1% this includes batteries also.
THere is no threshold limit for the same.
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
23 January 2013 as per 206C, scrap means waste or scrap generated from manufacturing or mechanical work of material. So if you are in manufacture of battery then it is applicable else not.
if applicable then 1% rate
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